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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:
 
 
Fair Value Measurements at Reporting Date Using
As of June 30, 2014
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Investment securities available-for-sale:
 
 
 
 
 
 
Obligations of U.S. government agencies
$
718,567

$
$
718,567

$
U.S. agencies mortgage-backed securities & collateralized mortgage obligations
788,064

 
788,064

 
Private mortgage-backed securities
365

 
365

 
Mortgage servicing rights
25,812

 
25,812

 
 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 2013
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Investment securities available-for-sale:
 
 
 
 
 
 
Obligations of U.S. government agencies
$
763,238

$
$
763,238

$
U.S. agencies mortgage-backed securities & collateralized mortgage obligations
1,184,053

 
1,184,053

 
Private mortgage-backed securities
415

 
415

 
Mortgage servicing rights
25,698

 
25,698

 
    
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Non-Recurring Basis
The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis.
 
 
 
Fair Value Measurements at Reporting Date Using
As of June 30, 2014
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
46,505

$
$
$
46,505

Other real estate owned
6,895

 
 
6,895

Long-lived assets to be disposed of by sale
1,186

 
 
1,186

 
 
 
 
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 2013
Balance
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Impaired loans
$
57,302

$
$
$
57,302

Other real estate owned
8,502

 
 
8,502

Long-lived assets to be disposed of by sale
1,186

 
 
1,186

Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs
The estimated fair values of financial instruments that are reported in the Company's consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows:
 
 
 
Fair Value Measurements at Reporting Date Using
As of June 30, 2014
Carrying Amount
Estimated
Fair Value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets:
 
 
 
 
 
Cash and cash equivalents
$
503,648

$
503,648

$

$
503,648

$

Investment securities available-for-sale
1,506,996

1,506,996


1,506,996


Investment securities held-to-maturity
586,989

592,682


592,682


Accrued interest receivable
26,497

26,497


26,497


Mortgage servicing rights, net
13,443

25,812


25,812


Net loans
4,428,096

4,389,772


4,343,267

46,505

Total financial assets
$
7,065,669

$
7,045,407

$

$
6,998,902

$
46,505

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
5,043,387

$
5,043,387

$

$
5,043,387

$

Time deposits
1,135,655

1,141,585


1,141,585


Securities sold under repurchase agreements
462,985

462,985


462,985


Other borrowed funds
20

20


20


Accrued interest payable
5,316

5,316


5,316


Long-term debt
36,893

35,381


35,381


Subordinated debentures held by subsidiary
   trusts
82,477

75,200


75,200


Total financial liabilities
$
6,766,733

$
6,763,874

$

$
6,763,874

$

 
 
 
Fair Value Measurements at Reporting Date Using
As of December 31, 2013
Carrying Amount
Estimated
Fair Value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets:
 
 
 
 
 
Cash and cash equivalents
$
534,827

$
534,827

$

$
534,827

$

Investment securities available-for-sale
1,947,706

1,947,706


1,947,706


Investment securities held-to-maturity
203,837

205,926


205,926


Accrued interest receivable
26,450

26,450


26,450


Mortgage servicing rights, net
13,546

25,698


25,698


Net loans
4,259,514

4,246,539


4,189,237

57,302

Total financial assets
$
6,985,880

$
6,987,146

$

$
6,929,844

$
57,302

 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
Total deposits, excluding time deposits
$
4,943,033

$
4,943,033

$

$
4,943,033

$

Time deposits
1,190,717

1,196,250


1,196,250


Securities sold under repurchase agreements
457,437

457,437


457,437


Other borrowed funds
3

3


3


Accrued interest payable
4,963

4,963


4,963


Long-term debt
36,917

34,508


34,508


Subordinated debentures held by subsidiary
   trusts
82,477

72,045


72,045


Total financial liabilities
$
6,715,547

$
6,708,239

$

$
6,708,239

$